Manila Electric Company (MERALCO) says it received interest from six power generation companies to participate in the Competitive Selection Process (CSP) for the distribution utility’s (DU) 400 megawatt (MW) supply requirement.
“Following the success of our recent CSP for 600 MW of baseload supply where Meralco received very competitive offers, we welcome the continued interest of the country’s major energy players to join this CSP round that will help us ensure availability of least-cost supply for our customers starting next year,” said MERALCO Bids and Awards Committee Chairman Lawrence S. Fernandez.
In a statement, MERALCO named First Gas Power Corporation, First Natgas Power Corporation, FDC Misamis Power Corporation, GNPower Dinginin Ltd. Co., Masinloc Power Co. Ltd., and Sual Power Inc. as the participants in the Pre-Bid Conference.
The 15-year Power Supply Agreement (PSA) for MERALCO’s 400 MW mid-merit requirement is slated to begin on August 26, 2025. Before they take effect, these agreements would still be subjected to a thorough review and approval by the Energy Regulatory Commission.
Earlier this week, MERALCO finalized agreements with two power generation companies that provided the most cost-effective proposals for its 600 MW supply requirements through a different competitive selection process.
Masinloc Power Co. Ltd. secured the bid with an offer of Php 5.6015 per kWh for 500 MW while GNPower Dinginin Ltd. Co. offered Php 5.7392 per kWh for the remaining 100 MW base load requirement.
Both bids were much less than the Php 7.2609 per kWh reserve price set for the bidding.
“We are happy that the main objective of the CSP, which is to secure the least cost supply for our customers, has been achieved. We hope that there will be no further delays as we work towards immediate signing of the PSAs resulting from the 600 MW CSP,” MERALCO Senior Vice President and Head of Regulatory Management Jose Ronald V. Valles said.
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